Tron (TRX) has fallen out of the top 10 cryptocurrencies by market capitalization, according to CoinGecko. This comes as meme coin traders appear to be losing interest in the network’s meme coin launchpad, SunPump.
Following the launch of SunPump by Tron’s controversial founder Justin Sun, TRX climbed 24.8% to $0.168 as it broke into the top 10 cryptocurrencies. At this peak, SunPump was responsible for 7,531 tokens being created on Tron.
But for the past two days, SunPump has seen fewer than 1,000 coins created on the platform, according to Dune data. Meanwhile, Pump.fun has launched 6,993 tokens over the past 24 hours. In fact, since the start of September, SunPump has created just 10,147 tokens—a total that Pump.fun surpassed in the past 48 hours.
Solana-based meme coin factory Pump.fun has retaken a key statistical lead over SunPump, nearly two weeks after the Tron token launchpad flipped Pump.fun in daily created coins.
On August 21, SunPump created 1,658 more tokens than Pump.fun over a 24 hour period. But this token creation dominance was short-lived. On Wednesday, according to Dune data, SunPump created just 1,258 tokens, falling 83% from 7,531 tokens created just two weeks prior.
This decline can also be seen in the Tron launchpad...
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As a result, it appears that Tron’s TRX is falling out of favor. The token has fallen 9.5% since its recent high of $0.168. This fall means that Toncoin (TON) has moved up 4.2% over the past 24 hours and was enough for the Telegram-linked project to replace Tron in the top 10 cryptocurrencies by market cap.
Despite this, many Tron meme coins created by the platform are in the green this week.
Sundog (SUNDOG) the largest meme on Tron at a market cap of $316 million is up 21.5% over the past 7 days. Similarly, Muncat (MUNCAT) is up 21%, Suncat (SUNCAT) 61%, and SunWukong (SUNWUKONG) 62.6% as Justin Sun and Elon Musk post the meme on Twitter.
SunWukong isn’t just a game character; he’s a superhero cooler than Iron Man. I suggest @elonmusk take a look. SunWukong’s history spans thousands of years, crossing time, space, and religious narratives—beyond any Marvel or DC character. His story mirrors Elon Musk's journey. https://t.co/gVjNQhurp8
This comes as Bitcoin surged back above $57,000 after a bad week for the leading cryptocurrency. With this, most of the top 100 cryptocurrencies are up on the day with Tron being one of the few in the red, albeit down just 0.7%.
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Dogecoin (DOGE) fell 12.4% in the past 24 hours as a broader market decline continues, triggered by the Federal Reserve's latest economic outlook.
The meme coin has dropped to $0.31, while trading volume surged 67% to $10.25 billion as holders repositioned their bags. It's now down 35% from its 2024 high of $0.47.
Despite the pullback, Dogecoin's market capitalization remains at $46.6 billion, maintaining its position as the seventh-largest crypto.
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